Table 13.2 presents broadly the profits of businesses (referred to as gross operating surplus and gross mixed income) and the wages income of employees (referred to as compensation of employees) for 1999-2000, the change over 1998-99, and the average annual rate of growth over the years from 1991-92.

The table shows that profits rose in 1999-2000 in all industries except Retail Trade (down 4%) and Manufacturing (down 0.2%). The average for profits across all industries increased 8% in 1999-2000 over 1998-99. From 1991-92 to 1999-00 profits grew by an average of 6% per year.

The strongest increases in profits in 1999-2000 were recorded for Personal and other services (27%), Mining (22%) and Finance and insurance (18%). In the period from 1991-92 to 1999-00, there was an average annual increase in profits for all industries. Over this period, Personal and other services showed an average annual increase in profits of 13%,while profits for Communication services increased on average by 9%.

The table also shows the growth in wages. Movements in wages correlate with employment in the industry and average wages per person employed. The Personal and other services and Construction industries showed the largest increase (12%) in wages in 1999-2000.

The largest annual increase over the period from 1991-92 to 1999-2000 was recorded in the Property and business services industry (up by 11%), followed by the Culture and recreation industry (up 8%).

Wages in the Accommodation, cafes and restaurants industry rose by 11% in 1999-2000, with an average annual increase of 6% over the years from 1991-92 to 1999-00.

Wages in the Electricity, gas and water supply industry rose by 3% in 1999-2000,but recorded an average annual decrease of 4% over the years from 1991-92 to 1999-2000. In contrast, the Mining industry showed a decrease of 2% in wages for 1999-00, but over the eight years to 1999-2000 Mining showed an average annual growth in wages of 3% per year.

13.2 PROFITS AND WAGES, By Industry

Profits (GOS(a) and GMI(b))

Wages (Compensation of
employees(c))

Industry

1999-00

$m

Change from1998-99

%

Average annual rate of growth 1991-92 to 1999-00

%

1999-00

$m

Change from1998-99

%

Average annual rate of growth 1991-92 to 1999-00

%

Agriculture, forestry and fishing

13,666

4.6

6.4

4,409

1.5

5.5

Mining

20,920

22.1

5.2

5,683

-1.5

2.7

Manufacturing

32,724

-0.2

6.8

40,863

5.8

4.2

Electricity, gas and water supply

8,345

12.8

0.1

3,329

3.0

-3.9

Construction

18,928

9.0

8.3

17,219

11.6

6.6

Wholesale trade

9,115

2.9

1.5

21,539

2.1

5.1

Retail trade

7,569

-3.6

1.0

23,116

5.2

6.4

Accommodation, cafes and restaurants

4,635

7.9

7.1

7,908

11.0

5.6

Transport and storage

15,371

8.2

5.6

18,322

4.0

4.7

Communication services

10,714

12.6

9.0

7,446

6.5

4.0

Finance and insurance

17,381

17.8

7.8

18,943

6.2

5.8

Property and business services

25,519

14.1

6.0

45,275

8.1

10.9

Government administration and defence

3,210

5.6

4.1

20,109

1.8

4.6

Education

2,926

4.6

6.3

24,649

5.7

5.3

Health and community services

5,760

5.6

6.1

28,091

3.7

4.9

Cultural and recreational services

4,518

3.6

7.0

5,663

8.3

7.9

Personal and other services

4,000

27.2

13.4

10,570

11.9

5.7

Ownership of dwellings

51,613

3.4

5.1

. .

. .

. .

All industries

256,914

7.8

5.7

303,134

5.7

5.7

(a) Gross operating surplus (GOS) in current prices.(b) Gross mixed income (GMI) in current prices.(c) This was formerly known as Wages, Salaries and Supplements.

Source: Australian System of National Accounts, 1999-00 (5204.0).

Table 13.3 shows the growth in each industry’s gross value added in terms of chain volume measures, in 1999-2000 and over the longer term as an annual average over the years from 1991-92 to 1999-2000. While current price estimates reflect both price and volume changes, chain volume estimates reflect only volume changes, as the direct effect of price changes has been eliminated from the estimates. For more information on chain volume measures see the section Chain volume or ‘real’ GDP in National accounts.

The three industries showing the largest growth in gross value added in 1999-2000 were Communication services (14%), Mining (10%) and Finance and insurance (10%).

The largest annual average increase in gross value added over the years from 1991-92 to 1999-2000 was recorded in the Communication services industry (11%).